Pintec Technology (NASDAQ:PT) Shares Down 6.3% – Here’s What Happened

Pintec Technology Holdings Ltd. (NASDAQ:PT)’s share price dropped 6.3% on Tuesday . The company traded as low as $0.96 and last traded at $0.9750. Approximately 105,382 shares changed hands during mid-day trading, an increase of 118% from the average daily volume of 48,353 shares. The stock had previously closed at $1.04.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Pintec Technology in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pintec Technology currently has an average rating of “Sell”.

Pintec Technology Stock Down 6.3%

The company has a fifty day moving average of $0.97 and a 200-day moving average of $0.96.

Institutional Trading of Pintec Technology

A hedge fund recently bought a new stake in Pintec Technology stock. Virtu Financial LLC purchased a new position in shares of Pintec Technology Holdings Ltd. (NASDAQ:PT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,986 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned approximately 0.32% of Pintec Technology as of its most recent SEC filing. Institutional investors and hedge funds own 6.57% of the company’s stock.

Pintec Technology Company Profile

Pintec Technology Holdings Limited, together with its subsidiaries, engages in the provision of technology-enabled financial and digital services to the ecosystem of MSMEs and SMEs in the People’s Republic of China. The company connects business partners and financial partners on its open platform and enables them to provide financial services to end users.